15 Executive Directors to be elevated as MD for PSU Banks | Current Affairs, Current Affairs 2018

15 Executive Directors to be elevated as MD for PSU Banks

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The Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top level board appointments, has recommended 15 executive directors to be elevated as managing directors (MD) at various public sector banks. The panel headed by former Department of Personnel and Training Secretary B P Sharma recommended Anushula Kant Deputy Managing Director and CFO to be promoted as managing director in State Bank of India (SBI), according to the BBB recommendations sent to the government. The vacancy arose following resignation of B Sriram from the bank.
Sriram has joined IDBI Bank as MD and CEO. Other names approved by the panel include six SBI deputy managing directors–Padmaja Chunduru, Karnam Sekar, Mrutyunjay Mahapatra, Pallav Mohapatra, J Packirisamy, C V Nageswar. Besides, Gopal Murli Bhagat (ED Corporation Bank), P V Bharathi (ED Canara Bank), Atul Kumar Goel (ED Union Bank of India), S Harisankar (ED Allahabad Bank), Ashok Kumar Pradhan (ED United Bank of India) and CH S S Mallikarjuna Rao (ED Syndicate Bank) have also been selected. Two executive directors (ED) of Indian Bank M K Bhattacharya and A S Rajeev also part of the list of promotion.
“These recommendations are based on interactions held by the Banks Board Bureau and are subject to various clearances,” it said. The Appointments Committee of Cabinet headed by Prime Minister Narendra Modi will take the final decision in this regard. There are already some vacancies at MD level and some would be created during the course of the year.

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